28° Mastercard Cash Advances while overseas [No more free cash advances from 1/1/14]

[serfty]

any ATM that will take a commission/fee will advise before you complete the transaction.

 

[Fifa]

My son has a Wizard MC card and was in Canada earlier this year. He found a lot of banks charged fees but North Shore Credit Union was one of the exceptions so they got his business!

 

[JohnK]

any ATM that will take a commission/fee will advise before you complete the transaction.

I didn't want to risk ATM fees, exchange rates and commission so I decided to purchase some foreign currency for US, Canada and first couple of days in Greece. The rate I got from Crown Currency Exchange was very good and by my calculations the variance, with currect exchange rate, would not be more than +-$5 if I used the Wizard card for cash withdrawls.

 

[zzyss]

I received my welcome pack in the mail yesterday. Only approved for $1000 :evil: (most likely because I already have 2 other credit cards with high-ish limits)

Does that mean I'm effectively crippled if I run into the "bad luck" version of the card where you can't withdraw cash advances over the size of the credit limit? i.e. if I were to load $5k onto the card, would I be wasting my time since I could only withdraw $1k during the billing cycle?

I saw in the definitive post a couple of pages back that after activating I should go and download a form that will allow me to increase my withdrawal limit to > $1k, but with a $1k limit that seems like a bit of a daft thing to do...

At least I'll have my other cards as backup...

 

[FL360]

Yes, recently I think the providers have started credit rationing,
I have tried to apply for another card, and got only $1000 limit as well..

Lucky I have 7k limit for the Wizard, enough for most o/s trips...

As for the withdrawal > credit limit restrictions, I think
you can only try it out to find out....

I received my welcome pack in the mail yesterday. Only approved for $1000 :evil: (most likely because I already have 2 other credit cards with high-ish limits)

Does that mean I'm effectively crippled if I run into the "bad luck" version of the card where you can't withdraw cash advances over the size of the credit limit? i.e. if I were to load $5k onto the card, would I be wasting my time since I could only withdraw $1k during the billing cycle?

I saw in the definitive post a couple of pages back that after activating I should go and download a form that will allow me to increase my withdrawal limit to > $1k, but with a $1k limit that seems like a bit of a daft thing to do...

At least I'll have my other cards as backup...

 

[zzyss]

As for the withdrawal > credit limit restrictions, I think
you can only try it out to find out....

Actually, this is probably stupid, but would it be possible for me to load $2k in there and try withdrawing it here in Aus? Would that be a reliable test or might it be different o/s?

 

[FL360]

Yes, that would be a good test,

however, most banks' ATM charge a fee for withdrawing cash from
another bank's card.

The only exception is Westpac...

Actually, this is probably stupid, but would it be possible for me to load $2k in there and try withdrawing it here in Aus? Would that be a reliable test or might it be different o/s?

 

[Warks]

I was given the $8K limit even though I have two other cards with a combined limit of $33K and I'm self-employed for the past 10 months! They may have looked at my mortgage as well though (got about 90% equity).

With $8K I shouldn't have any problems with these pretend limits I hope.

 

[odysseus]

As I recall, I got a 1k or similar low limit when I applied about 3.5 years ago, so it's not a recent thing. It struck me as odd, but I've bumped it up a little and managed it not to be an issue since.

 

[bobsi18]

Does that mean I'm effectively crippled if I run into the "bad luck" version of the card where you can't withdraw cash advances over the size of the credit limit? i.e. if I were to load $5k onto the card, would I be wasting my time since I could only withdraw $1k during the billing cycle?

Just wanted to post my recent experience with the card...

I've used it in many countries now, without too many issues (although I had one about a year ago in Japan, I think I posted about that). I'm in Japan again at the moment, and had to take out a heap of cash recently (you have to prepay apartments here!).

My card limit is 2K, I had about 4K of my own funds on the card, so a total of 6K. Last year I ran into problems because I attempted to take out more than $1000 as a cash withdrawl in one day, the card was locked for 24 hours. So I was careful not to do that this time. Day 1 I took out ~$950, Day 2 I took out ~$950, Day 3 I attempted to take out ~$950, but the card wouldn't work.

After a lot of to-ing and fro-ing on the phone, it turns out that despite the fact that their website says a max of $1000 per day, it's actually a max of your credit limit (so, in my case, 2K) per length of time it takes between you taking the money out, and the transaction showing in the transaction history on the wizard website. This length of time varies based on a lot of factors, and the only way to check it is to either log in, or attempt to take more money out, according to Wizard. And, according to wizard, continually attempting to get money out, when you've already gone past your max for the day, will not lock up the card, although after my experiences last year, I'm not in a hurry to test that.

In my experience, in Japan, it took about 4 business days for the transaction to show up, and I could take more money out.

I tried to up my limit whilst trying to sort all of this out (I've had the card for about 2 years, no late payments, have used it quite regularly etc), and they said that they aren't issuing increases to anyone. Not at all sure if this is true though.

I still think this card is a great travelers credit card, but always make sure you have a second or third cash option as well...

 

[Flashback]

Just wanted to post my recent experience with the card...

I've used it in many countries now, without too many issues (although I had one about a year ago in Japan, I think I posted about that). I'm in Japan again at the moment, and had to take out a heap of cash recently (you have to prepay apartments here!).

My card limit is 2K, I had about 4K of my own funds on the card, so a total of 6K. Last year I ran into problems because I attempted to take out more than $1000 as a cash withdrawl in one day, the card was locked for 24 hours. So I was careful not to do that this time. Day 1 I took out ~$950, Day 2 I took out ~$950, Day 3 I attempted to take out ~$950, but the card wouldn't work.

After a lot of to-ing and fro-ing on the phone, it turns out that despite the fact that their website says a max of $1000 per day, it's actually a max of your credit limit (so, in my case, 2K) per length of time it takes between you taking the money out, and the transaction showing in the transaction history on the wizard website. This length of time varies based on a lot of factors, and the only way to check it is to either log in, or attempt to take more money out, according to Wizard. And, according to wizard, continually attempting to get money out, when you've already gone past your max for the day, will not lock up the card, although after my experiences last year, I'm not in a hurry to test that.

In my experience, in Japan, it took about 4 business days for the transaction to show up, and I could take more money out.

I tried to up my limit whilst trying to sort all of this out (I've had the card for about 2 years, no late payments, have used it quite regularly etc), and they said that they aren't issuing increases to anyone. Not at all sure if this is true though.

I still think this card is a great travelers credit card, but always make sure you have a second or third cash option as well...

Some solid advice there. I'm spending a month in Europe and was going to use the card for the entire trip, but may need to rethink that option now.

 

[zzyss]

After a lot of to-ing and fro-ing on the phone, it turns out that despite the fact that their website says a max of $1000 per day, it's actually a max of your credit limit (so, in my case, 2K) per length of time it takes between you taking the money out, and the transaction showing in the transaction history on the wizard website.

Hey thanks, that's extremely helpful!

So basically the withdrawal limit is not across the billing cycle, but rather how long it takes for the transaction to be processed?

Cool. I'm sure I could make $990 stretch over a few days in Hong Kong and Korea, as long as the missus and I don't go too nuts with the shopping

 

[bobsi18]

Some solid advice there. I'm spending a month in Europe and was going to use the card for the entire trip, but may need to rethink that option now.

I have successfully used the card on many other trips (although not in Europe, I didn't have the card when I went to Europe) to Asia, some up to 3 and 4 months long, with no issues what-so-ever, it really was the limit thing that stuffed me up this time. So as long as you're not planning on taking out the limit in one day/a couple of days, you're ok.

In the end, when I found I couldn't take any more money out for a few more days, I went into the place where I was paying for my apartment, and found I could pay via credit card (didn't think I could, Japan is very much a cash society, and foreign credit cards often don't work). So even though my card would not give me any more cash advances, I was able to use it as a credit card with no problems.

But yeh, I personally will continue to use the Wizard credit card as my number one cash source, but will always have alternatives with me as well. Oh, and if possible, give someone "on the ground" in Australia the rights to enquire about your account etc - I made sure that my dad is able to do this, which came in handy when the card stopped working, as he could ring them on my behalf.

 

[bobsi18]

So basically the withdrawal limit is not across the billing cycle, but rather how long it takes for the transaction to be processed?

Yep, that's what they told me, and that's certainly what I experienced. I think this has changed recently, my card definitely locked up last year when I attempted to take more than $1000 out, and that's what the website says. However, when I rang, they told me this new information, and it seems to be on the ball - this is the only time I've had to try to take out large sums, and what they said seemed to ring true to my case.

As soon as the transaction showed in my billing area on their website, I was able to take more cash out, up to my credit limit. You could definitely test it in Aus though, won't hurt you, if you've got plenty of time to move money around etc.

 

[Cynicor]

This latest explanation makes a lot of sense, and probably accounts for the people who thought the limit was across their billing cycle. I doubt I'll have any issues with the card- no way I can blow $5000 in cash before the transactions post...

Probably have to develop a hard-core drug addiction, or do dealers take cards too now?

 

[Oneworldplus2]

I just got my card in the mail 1 week ago. Got the PIN stuff on Wednesday and the internet login function sorted on Friday.
The lady on the phone was VERY helpful and l told her that l was planning on going to BKK in December. And was just using the card to get money from ATM's because they did not attract any ATM withdrawal fees.
She wrote the dates down and told me that the fraud section at Wizard are always on the lookout for weird transactions. She advised that if l were planning a trip overseas, it's wise to ring Wizard and tell them where you are going and what dates before you leave. Has anyone else heard of this policy from Wizard????
She also mentioned something about putting large amounts of money on the card because some branch of the Gov watchs out for money laundering? I found that part a little bit weird to be honest.
What's a grand or 2 on a CC? I always thought that money laundering was on a much bigger scale? If you can take up 10k through customs without decalration?!? Hmm, got me stumped.

 

[Flashback]

Yes, most CC providers have the same policy. When I was in SIN last time, I forgot to tell them I was going and had a phonecall within 2 hours of making my first transaction to confirm whether I was in fact in Singapore.

Great service if you ask me, considering it's a fee free card.

 

[Warks]

So the fee-free bit in Australia only applies to Westpac ATMs? I tested it in St George (which is owned by Westpac isn't it?), ANZ, CBA and Westpac and they all wanted to slug me $2 except Westpac.
Will I have to search for the same overseas? I did see a mention above of a bank in Canada which is fee-free so will use them.

When you get your balance after a transaction it only shows the cash on the card, not the credit limit plus cash. Did anyone else find this? I took the money from 'Credit card' not Savings as I should have.

 

[Flashback]

So the fee-free bit in Australia only applies to Westpac ATMs? I tested it in St George (which is owned by Westpac isn't it?), ANZ, CBA and Westpac and they all wanted to slug me $2 except Westpac.
Will I have to search for the same overseas? I did see a mention above of a bank in Canada which is fee-free so will use them.

When you get your balance after a transaction it only shows the cash on the card, not the credit limit plus cash. Did anyone else find this? I took the money from 'Credit card' not Savings as I should have.

No you won't have to do the same overseas, that fee is an Australian based fee. That said, many other countries would have similar things in place also.

 

[oz_perspective]

I just took a look at the the Clear Advantage site and it does not appear to mention the free international transactions etc. Does the product definitely still offer this?

Thanks